JOHANNESBURG, Sept 13 (Reuters) – AIM-listed coal
development company Ncondezi Coal is looking for a
partner to build a coal-fired power plant in Mozambique to
supply the domestic and regional markets, its chief executive
officer said on Thursday.
The power plant, to be commissioned in 2017 and to be
located in Mozambique’s northern Tete province, would be built
in phases, initially ramping up to generate 600 MW by 2019.
JOHANNESBURG, Sept 12 (Reuters) – Construction of South
Africa’s 4,764 MW Medupi coal-fired power plant, meant to plug a
dire electricity shortfall, remained suspended following
protests at the site the previous week, state-owned utility
Eskom said on Wednesday.
Last week around 80 workers contracted by Murray & Roberts
(M&R) and Grinaker-LTA, part of construction group
Aveng, damaged some vehicles and equipment at the site
in an illegal protest over labour issues.
JOHANNESBURG, Sept 10 (Reuters) – South African
petrochemicals group Sasol Ltd plans to pursue its
natural gas-focused strategy through further acquisitions or by
partnering with other producers to convert their gas into fuel
or chemicals, a senior official said on Monday.
Sasol is the world’s top maker of motor fuels from coal, but
has increasingly been diversifying into chemicals, gas and
clean-energy projects, partly to align itself with wider moves
to low-carbon systems and to benefit from low gas prices.
JOHANNESBURG, Aug 1 (Reuters) – South Africa’s Exxaro
is looking to invest in platinum group metals or copper
to benefit from a favourable market and become a fully
diversified miner, a senior executive said on Wednesday.
Exxaro, which posted an 11 percent rise in first-half
earnings, has been on a push to diversify beyond its traditional
reliance on coal, mineral sands and its 20 percent stake in iron
ore miner Kumba Iron Ore.
JOHANNESBURG (Reuters) – South Africa’s PetroSA is in talks to buy assets in Ghana from Sabre Oil and Gas, including a stake in the lucrative Jubilee field, the head of the government-owned oil group said on Thursday.
Under new leadership since March, PetroSA has become more aggressive about new projects, scouting Africa for oil and gas and buying downstream assets to diversify its revenue beyond a gas-to-liquids plant in South Africa.
JOHANNESBURG, July 10 (Reuters) – South African logistics
group Transnet is committed to raising capacity on its
coal export rail line despite a policy debate that could curb
outside sales if the commodity is declared a “strategic
resource,” its head said on Tuesday.
Coal exporters in South Africa, which include Anglo American
, Exxaro, Sasol, BHP Billiton
and Xstrata Coal, have long been eager to export
more coal to supply growing demand from power plants in Asia.
MAPUTO (Reuters) – In Mozambique’s port capital Maputo, glitzy offices, boutique hotels and fancy restaurants are popping up alongside crumbling colonial buildings, nourished by multi-billion dollar investment in coal and gas deposits to the north.
Luxury cars jam crowded streets and smart-suited business executives strut the sidewalks.
JOHANNESBURG (Reuters) – South African bank Absa (ASAJ.J: Quote, Profile, Research, Stock Buzz) will pay $1.2 billion for the store credit card business of unlisted domestic retailer Edcon, it said on Wednesday, bulking up its presence in the high-margin but riskier unsecured lending market.
Under the deal, Absa, majority-owned by Britain’s Barclays Plc (BARC.L: Quote, Profile, Research, Stock Buzz), will also extend credit and sell other financial products to the nearly 4 million customers of South Africa’s biggest clothing retailer.
JOHANNESBURG, June 6 (Reuters) – South African bank Absa
will pay $1.2 billion for the store credit card
business of unlisted domestic retailer Edcon, it said on
Wednesday, bulking up its presence in the high-margin but
riskier unsecured lending market.
Under the deal, Absa, majority-owned by Britain’s Barclays
Plc, will also extend credit and sell other financial
products to the nearly 4 million customers of South Africa’s
biggest clothing retailer.
JOHANNESBURG, June 6 (Reuters) – Brtiain’s Aggreko
and its local joint-venture partner Shanduka Group will supply
107 megawatts of gas-fired power to Mozambique and South Africa,
the company said on Wednesday, helping to plug electricity
shortages in the region.
Countries in southern Africa have been struggling to meet
fast-rising demand for power, with the next two years seen as
particularly tight until new power plants start coming online.